Month: December 2022

U.S. stock indices fall further ahead of their worst year since 2008

Posted on by Vrasidas Neofytou

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

At the same time, the projections on iPhone shipments for 2022 and the first quarter of 2023 would be lower than previous estimates, deteriorating the revenue outlook for 2023.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

At the same time, the projections on iPhone shipments for 2022 and the first quarter of 2023 would be lower than previous estimates, deteriorating the revenue outlook for 2023.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

The share of Apple, a bellwether for the overall market and a major influence on investor sentiment, led the broad sell-off, falling more than 3% to $126, posting a new 52-week low for a second day as iPhone supply disruption jitters persist amid labor shortages at Foxconn’s main production facility in Zhengzhou, China.

At the same time, the projections on iPhone shipments for 2022 and the first quarter of 2023 would be lower than previous estimates, deteriorating the revenue outlook for 2023.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

The share of Apple, a bellwether for the overall market and a major influence on investor sentiment, led the broad sell-off, falling more than 3% to $126, posting a new 52-week low for a second day as iPhone supply disruption jitters persist amid labor shortages at Foxconn’s main production facility in Zhengzhou, China.

At the same time, the projections on iPhone shipments for 2022 and the first quarter of 2023 would be lower than previous estimates, deteriorating the revenue outlook for 2023.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

The Dow Jones index extended recent losses by 1.1% to 32,875, settling below the 33,000 key support level, heavily affected by losses in the largest market cap stock of Apple, on energies, and industrials.

The share of Apple, a bellwether for the overall market and a major influence on investor sentiment, led the broad sell-off, falling more than 3% to $126, posting a new 52-week low for a second day as iPhone supply disruption jitters persist amid labor shortages at Foxconn’s main production facility in Zhengzhou, China.

At the same time, the projections on iPhone shipments for 2022 and the first quarter of 2023 would be lower than previous estimates, deteriorating the revenue outlook for 2023.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

The Dow Jones index extended recent losses by 1.1% to 32,875, settling below the 33,000 key support level, heavily affected by losses in the largest market cap stock of Apple, on energies, and industrials.

The share of Apple, a bellwether for the overall market and a major influence on investor sentiment, led the broad sell-off, falling more than 3% to $126, posting a new 52-week low for a second day as iPhone supply disruption jitters persist amid labor shortages at Foxconn’s main production facility in Zhengzhou, China.

At the same time, the projections on iPhone shipments for 2022 and the first quarter of 2023 would be lower than previous estimates, deteriorating the revenue outlook for 2023.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

Market reaction:

The Dow Jones index extended recent losses by 1.1% to 32,875, settling below the 33,000 key support level, heavily affected by losses in the largest market cap stock of Apple, on energies, and industrials.

The share of Apple, a bellwether for the overall market and a major influence on investor sentiment, led the broad sell-off, falling more than 3% to $126, posting a new 52-week low for a second day as iPhone supply disruption jitters persist amid labor shortages at Foxconn’s main production facility in Zhengzhou, China.

At the same time, the projections on iPhone shipments for 2022 and the first quarter of 2023 would be lower than previous estimates, deteriorating the revenue outlook for 2023.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

Market reaction:

The Dow Jones index extended recent losses by 1.1% to 32,875, settling below the 33,000 key support level, heavily affected by losses in the largest market cap stock of Apple, on energies, and industrials.

The share of Apple, a bellwether for the overall market and a major influence on investor sentiment, led the broad sell-off, falling more than 3% to $126, posting a new 52-week low for a second day as iPhone supply disruption jitters persist amid labor shortages at Foxconn’s main production facility in Zhengzhou, China.

At the same time, the projections on iPhone shipments for 2022 and the first quarter of 2023 would be lower than previous estimates, deteriorating the revenue outlook for 2023.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

Growing worries for an economic recession, record-high inflation, energy crisis, Ukraine war, Covid concerns in China, a stronger dollar, surging interest rates, and borrowing costs amid the hawkish central banks have removed the risk appetite from the market recently, pushing tech-heavy Nasdaq Composite down by 35% so far in the year, while the S&P 500 and Dow Jones are on track to lose 20.6% and 10% respectively.

Market reaction:

The Dow Jones index extended recent losses by 1.1% to 32,875, settling below the 33,000 key support level, heavily affected by losses in the largest market cap stock of Apple, on energies, and industrials.

The share of Apple, a bellwether for the overall market and a major influence on investor sentiment, led the broad sell-off, falling more than 3% to $126, posting a new 52-week low for a second day as iPhone supply disruption jitters persist amid labor shortages at Foxconn’s main production facility in Zhengzhou, China.

At the same time, the projections on iPhone shipments for 2022 and the first quarter of 2023 would be lower than previous estimates, deteriorating the revenue outlook for 2023.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

Growing worries for an economic recession, record-high inflation, energy crisis, Ukraine war, Covid concerns in China, a stronger dollar, surging interest rates, and borrowing costs amid the hawkish central banks have removed the risk appetite from the market recently, pushing tech-heavy Nasdaq Composite down by 35% so far in the year, while the S&P 500 and Dow Jones are on track to lose 20.6% and 10% respectively.

Market reaction:

The Dow Jones index extended recent losses by 1.1% to 32,875, settling below the 33,000 key support level, heavily affected by losses in the largest market cap stock of Apple, on energies, and industrials.

The share of Apple, a bellwether for the overall market and a major influence on investor sentiment, led the broad sell-off, falling more than 3% to $126, posting a new 52-week low for a second day as iPhone supply disruption jitters persist amid labor shortages at Foxconn’s main production facility in Zhengzhou, China.

At the same time, the projections on iPhone shipments for 2022 and the first quarter of 2023 would be lower than previous estimates, deteriorating the revenue outlook for 2023.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

Nasdaq Composite, Weekly chart

Growing worries for an economic recession, record-high inflation, energy crisis, Ukraine war, Covid concerns in China, a stronger dollar, surging interest rates, and borrowing costs amid the hawkish central banks have removed the risk appetite from the market recently, pushing tech-heavy Nasdaq Composite down by 35% so far in the year, while the S&P 500 and Dow Jones are on track to lose 20.6% and 10% respectively.

Market reaction:

The Dow Jones index extended recent losses by 1.1% to 32,875, settling below the 33,000 key support level, heavily affected by losses in the largest market cap stock of Apple, on energies, and industrials.

The share of Apple, a bellwether for the overall market and a major influence on investor sentiment, led the broad sell-off, falling more than 3% to $126, posting a new 52-week low for a second day as iPhone supply disruption jitters persist amid labor shortages at Foxconn’s main production facility in Zhengzhou, China.

At the same time, the projections on iPhone shipments for 2022 and the first quarter of 2023 would be lower than previous estimates, deteriorating the revenue outlook for 2023.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

Nasdaq Composite, Weekly chart

Growing worries for an economic recession, record-high inflation, energy crisis, Ukraine war, Covid concerns in China, a stronger dollar, surging interest rates, and borrowing costs amid the hawkish central banks have removed the risk appetite from the market recently, pushing tech-heavy Nasdaq Composite down by 35% so far in the year, while the S&P 500 and Dow Jones are on track to lose 20.6% and 10% respectively.

Market reaction:

The Dow Jones index extended recent losses by 1.1% to 32,875, settling below the 33,000 key support level, heavily affected by losses in the largest market cap stock of Apple, on energies, and industrials.

The share of Apple, a bellwether for the overall market and a major influence on investor sentiment, led the broad sell-off, falling more than 3% to $126, posting a new 52-week low for a second day as iPhone supply disruption jitters persist amid labor shortages at Foxconn’s main production facility in Zhengzhou, China.

At the same time, the projections on iPhone shipments for 2022 and the first quarter of 2023 would be lower than previous estimates, deteriorating the revenue outlook for 2023.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

Nasdaq Composite, Weekly chart

Growing worries for an economic recession, record-high inflation, energy crisis, Ukraine war, Covid concerns in China, a stronger dollar, surging interest rates, and borrowing costs amid the hawkish central banks have removed the risk appetite from the market recently, pushing tech-heavy Nasdaq Composite down by 35% so far in the year, while the S&P 500 and Dow Jones are on track to lose 20.6% and 10% respectively.

Market reaction:

The Dow Jones index extended recent losses by 1.1% to 32,875, settling below the 33,000 key support level, heavily affected by losses in the largest market cap stock of Apple, on energies, and industrials.

The share of Apple, a bellwether for the overall market and a major influence on investor sentiment, led the broad sell-off, falling more than 3% to $126, posting a new 52-week low for a second day as iPhone supply disruption jitters persist amid labor shortages at Foxconn’s main production facility in Zhengzhou, China.

At the same time, the projections on iPhone shipments for 2022 and the first quarter of 2023 would be lower than previous estimates, deteriorating the revenue outlook for 2023.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

As we head into the final trading days of 2022, the major U.S. stock indices closed lower by more than 1% on Wednesday following a broad selloff amid recession fear and hawkish Federal Reserve, and they are on track for their worst year since 2008.

Nasdaq Composite, Weekly chart

Growing worries for an economic recession, record-high inflation, energy crisis, Ukraine war, Covid concerns in China, a stronger dollar, surging interest rates, and borrowing costs amid the hawkish central banks have removed the risk appetite from the market recently, pushing tech-heavy Nasdaq Composite down by 35% so far in the year, while the S&P 500 and Dow Jones are on track to lose 20.6% and 10% respectively.

Market reaction:

The Dow Jones index extended recent losses by 1.1% to 32,875, settling below the 33,000 key support level, heavily affected by losses in the largest market cap stock of Apple, on energies, and industrials.

The share of Apple, a bellwether for the overall market and a major influence on investor sentiment, led the broad sell-off, falling more than 3% to $126, posting a new 52-week low for a second day as iPhone supply disruption jitters persist amid labor shortages at Foxconn’s main production facility in Zhengzhou, China.

At the same time, the projections on iPhone shipments for 2022 and the first quarter of 2023 would be lower than previous estimates, deteriorating the revenue outlook for 2023.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

As we head into the final trading days of 2022, the major U.S. stock indices closed lower by more than 1% on Wednesday following a broad selloff amid recession fear and hawkish Federal Reserve, and they are on track for their worst year since 2008.

Nasdaq Composite, Weekly chart

Growing worries for an economic recession, record-high inflation, energy crisis, Ukraine war, Covid concerns in China, a stronger dollar, surging interest rates, and borrowing costs amid the hawkish central banks have removed the risk appetite from the market recently, pushing tech-heavy Nasdaq Composite down by 35% so far in the year, while the S&P 500 and Dow Jones are on track to lose 20.6% and 10% respectively.

Market reaction:

The Dow Jones index extended recent losses by 1.1% to 32,875, settling below the 33,000 key support level, heavily affected by losses in the largest market cap stock of Apple, on energies, and industrials.

The share of Apple, a bellwether for the overall market and a major influence on investor sentiment, led the broad sell-off, falling more than 3% to $126, posting a new 52-week low for a second day as iPhone supply disruption jitters persist amid labor shortages at Foxconn’s main production facility in Zhengzhou, China.

At the same time, the projections on iPhone shipments for 2022 and the first quarter of 2023 would be lower than previous estimates, deteriorating the revenue outlook for 2023.

The S&P 500 index fell 1.2% to 3,783, affected by significant losses in the energy sector as oil and natural gas prices slid, coupled with losses in airline and tourist sectors as the severe winter weather conditions canceled many flights and traveling during the busy-Christmas period.

Following the ongoing sell-off in tech and growth companies, tech-heavy Nasdaq Composite settled down by 1,5% yesterday, ahead of its worst year since 2008.

Nasdaq has lost nearly 35% so far this year as investors rotated out of rate-sensitive growth and tech stocks amid rising recession fears and surging interest rates.

Crude oil:

Both Brent and WTI crude oil prices fell further on Thursday morning, having lost more than 5% since topping on Tuesday on growing concerns that the surging Covid-19 cases in China could halt a recovery in petroleum demand growth for the world’s second-largest oil consumer.

Brent fell as low as $82/b on Thursday morning retreating from its monthly highs of $86/b hit on Tuesday, while U.S.-based WTI crude dropped to near $77/b, -2% so far on the day.

Exclusive Christmas in Love

Posted on by Exclusive Capital Team

This year, we provided customized Christmas packages to families whose children attend the Episkopi primary school in Limassol. The gift packages were presented to Mr Andreas Ktorou, president of the school’s Parent Teacher Association (PTA), by Mrs Kyriaki Michael, spouse of Exclusive Capital’s Co-founder/Managing Director, and Mrs Irini Csanadi Neofytou, HR Manager.

At Exclusive Capital, we know that our success is meaningless if we don’t give back to our communities, and it’s indeed the most fulfilling experience for us to come together as a team and create something that we know will put smiles on the faces of children and families.

Here at Exclusive Capital, the holiday season offers the perfect opportunity to give back to our local communities.

Every year, our team gathers together in the spirit of Christmas and Love to create beautiful gift packages with Christmas treats and vouchers to make the holidays special for families in Cyprus.

This year, we provided customized Christmas packages to families whose children attend the Episkopi primary school in Limassol. The gift packages were presented to Mr Andreas Ktorou, president of the school’s Parent Teacher Association (PTA), by Mrs Kyriaki Michael, spouse of Exclusive Capital’s Co-founder/Managing Director, and Mrs Irini Csanadi Neofytou, HR Manager.

At Exclusive Capital, we know that our success is meaningless if we don’t give back to our communities, and it’s indeed the most fulfilling experience for us to come together as a team and create something that we know will put smiles on the faces of children and families.

Here at Exclusive Capital, the holiday season offers the perfect opportunity to give back to our local communities.

Every year, our team gathers together in the spirit of Christmas and Love to create beautiful gift packages with Christmas treats and vouchers to make the holidays special for families in Cyprus.

This year, we provided customized Christmas packages to families whose children attend the Episkopi primary school in Limassol. The gift packages were presented to Mr Andreas Ktorou, president of the school’s Parent Teacher Association (PTA), by Mrs Kyriaki Michael, spouse of Exclusive Capital’s Co-founder/Managing Director, and Mrs Irini Csanadi Neofytou, HR Manager.

At Exclusive Capital, we know that our success is meaningless if we don’t give back to our communities, and it’s indeed the most fulfilling experience for us to come together as a team and create something that we know will put smiles on the faces of children and families.

Here at Exclusive Capital, the holiday season offers the perfect opportunity to give back to our local communities.

Every year, our team gathers together in the spirit of Christmas and Love to create beautiful gift packages with Christmas treats and vouchers to make the holidays special for families in Cyprus.

This year, we provided customized Christmas packages to families whose children attend the Episkopi primary school in Limassol. The gift packages were presented to Mr Andreas Ktorou, president of the school’s Parent Teacher Association (PTA), by Mrs Kyriaki Michael, spouse of Exclusive Capital’s Co-founder/Managing Director, and Mrs Irini Csanadi Neofytou, HR Manager.

At Exclusive Capital, we know that our success is meaningless if we don’t give back to our communities, and it’s indeed the most fulfilling experience for us to come together as a team and create something that we know will put smiles on the faces of children and families.

Brent oil hits $85/b on a severe U.S. snowstorm and China’s reopening

Posted on by Vrasidas Neofytou

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

Brent crude, 1-hour chart

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

Brent crude, 1-hour chart

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

Brent crude, 1-hour chart

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

Oil contracts have extended last week’s gains of 4% driven by the threats of Russian President Putin to cut production by between 500,0000 and 700,000 barrels per day in response to the price cap of $60 per barrel placed on Russian exports by the G7 grouping of countries on December 05, 2022.

Brent crude, 1-hour chart

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

Oil contracts have extended last week’s gains of 4% driven by the threats of Russian President Putin to cut production by between 500,0000 and 700,000 barrels per day in response to the price cap of $60 per barrel placed on Russian exports by the G7 grouping of countries on December 05, 2022.

Brent crude, 1-hour chart

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

Market reaction:

Oil contracts have extended last week’s gains of 4% driven by the threats of Russian President Putin to cut production by between 500,0000 and 700,000 barrels per day in response to the price cap of $60 per barrel placed on Russian exports by the G7 grouping of countries on December 05, 2022.

Brent crude, 1-hour chart

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

Market reaction:

Oil contracts have extended last week’s gains of 4% driven by the threats of Russian President Putin to cut production by between 500,0000 and 700,000 barrels per day in response to the price cap of $60 per barrel placed on Russian exports by the G7 grouping of countries on December 05, 2022.

Brent crude, 1-hour chart

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

Hence, the high winds in the Texas Gulf Coast also temporarily shut down LNG exports and petroleum products to other countries, especially in Europe and South America.

Market reaction:

Oil contracts have extended last week’s gains of 4% driven by the threats of Russian President Putin to cut production by between 500,0000 and 700,000 barrels per day in response to the price cap of $60 per barrel placed on Russian exports by the G7 grouping of countries on December 05, 2022.

Brent crude, 1-hour chart

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

Hence, the high winds in the Texas Gulf Coast also temporarily shut down LNG exports and petroleum products to other countries, especially in Europe and South America.

Market reaction:

Oil contracts have extended last week’s gains of 4% driven by the threats of Russian President Putin to cut production by between 500,0000 and 700,000 barrels per day in response to the price cap of $60 per barrel placed on Russian exports by the G7 grouping of countries on December 05, 2022.

Brent crude, 1-hour chart

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

According to Reuters, the crude oil production in North Dakota was cut by 300,000 barrels a day and the U.S. natural gas production declined by 10%-15% because of the blizzard.

Hence, the high winds in the Texas Gulf Coast also temporarily shut down LNG exports and petroleum products to other countries, especially in Europe and South America.

Market reaction:

Oil contracts have extended last week’s gains of 4% driven by the threats of Russian President Putin to cut production by between 500,0000 and 700,000 barrels per day in response to the price cap of $60 per barrel placed on Russian exports by the G7 grouping of countries on December 05, 2022.

Brent crude, 1-hour chart

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

According to Reuters, the crude oil production in North Dakota was cut by 300,000 barrels a day and the U.S. natural gas production declined by 10%-15% because of the blizzard.

Hence, the high winds in the Texas Gulf Coast also temporarily shut down LNG exports and petroleum products to other countries, especially in Europe and South America.

Market reaction:

Oil contracts have extended last week’s gains of 4% driven by the threats of Russian President Putin to cut production by between 500,0000 and 700,000 barrels per day in response to the price cap of $60 per barrel placed on Russian exports by the G7 grouping of countries on December 05, 2022.

Brent crude, 1-hour chart

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

One of the coldest Arctic events on record is expanding across most of the United States, having pounded regions from the upper U.S. Midwest to the Northeast, and toward areas as far south as Texas and Florida.

According to Reuters, the crude oil production in North Dakota was cut by 300,000 barrels a day and the U.S. natural gas production declined by 10%-15% because of the blizzard.

Hence, the high winds in the Texas Gulf Coast also temporarily shut down LNG exports and petroleum products to other countries, especially in Europe and South America.

Market reaction:

Oil contracts have extended last week’s gains of 4% driven by the threats of Russian President Putin to cut production by between 500,0000 and 700,000 barrels per day in response to the price cap of $60 per barrel placed on Russian exports by the G7 grouping of countries on December 05, 2022.

Brent crude, 1-hour chart

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

One of the coldest Arctic events on record is expanding across most of the United States, having pounded regions from the upper U.S. Midwest to the Northeast, and toward areas as far south as Texas and Florida.

According to Reuters, the crude oil production in North Dakota was cut by 300,000 barrels a day and the U.S. natural gas production declined by 10%-15% because of the blizzard.

Hence, the high winds in the Texas Gulf Coast also temporarily shut down LNG exports and petroleum products to other countries, especially in Europe and South America.

Market reaction:

Oil contracts have extended last week’s gains of 4% driven by the threats of Russian President Putin to cut production by between 500,0000 and 700,000 barrels per day in response to the price cap of $60 per barrel placed on Russian exports by the G7 grouping of countries on December 05, 2022.

Brent crude, 1-hour chart

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

Brent and WTI crude oil prices climbed to near $85/b and $80/b respectively on Tuesday morning as a severe Arctic snowstorm, frigid cold, and blowing winds, which swept across the U.S. over the last few days, have halted some crude oil and gas production and has also increased the demand for heating oil.

One of the coldest Arctic events on record is expanding across most of the United States, having pounded regions from the upper U.S. Midwest to the Northeast, and toward areas as far south as Texas and Florida.

According to Reuters, the crude oil production in North Dakota was cut by 300,000 barrels a day and the U.S. natural gas production declined by 10%-15% because of the blizzard.

Hence, the high winds in the Texas Gulf Coast also temporarily shut down LNG exports and petroleum products to other countries, especially in Europe and South America.

Market reaction:

Oil contracts have extended last week’s gains of 4% driven by the threats of Russian President Putin to cut production by between 500,0000 and 700,000 barrels per day in response to the price cap of $60 per barrel placed on Russian exports by the G7 grouping of countries on December 05, 2022.

Brent crude, 1-hour chart

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

Brent and WTI crude oil prices climbed to near $85/b and $80/b respectively on Tuesday morning as a severe Arctic snowstorm, frigid cold, and blowing winds, which swept across the U.S. over the last few days, have halted some crude oil and gas production and has also increased the demand for heating oil.

One of the coldest Arctic events on record is expanding across most of the United States, having pounded regions from the upper U.S. Midwest to the Northeast, and toward areas as far south as Texas and Florida.

According to Reuters, the crude oil production in North Dakota was cut by 300,000 barrels a day and the U.S. natural gas production declined by 10%-15% because of the blizzard.

Hence, the high winds in the Texas Gulf Coast also temporarily shut down LNG exports and petroleum products to other countries, especially in Europe and South America.

Market reaction:

Oil contracts have extended last week’s gains of 4% driven by the threats of Russian President Putin to cut production by between 500,0000 and 700,000 barrels per day in response to the price cap of $60 per barrel placed on Russian exports by the G7 grouping of countries on December 05, 2022.

Brent crude, 1-hour chart

Both oil prices have posted a significant rally over the last few days, trading over 12% higher relative to their 2022 lows of $75/b and $70/b respectively, set at the beginning of December, as energy traders bet on a potential China reopening which could provide a big boost in oil demand.

According to S&P’s latest forecast, oil demand in China could hit 15.7 million barrels per day in 2023, which would represent an increase of 700,000 barrels compared to 2022.

Increased oil demand from China could offset a potential slowdown in demand for petroleum products across the world amid the likelihood of an economic recession due to the hiking of interest rates and record-high inflation.

Global stocks drop amid fresh Fed’s rate hike fears

Posted on by Vrasidas Neofytou

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

Nasdaq Composite, Daily chart

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

Nasdaq Composite, Daily chart

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

Nasdaq Composite, Daily chart

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

Rate-sensitive and high-growth tech stocks led the losses on concerns for softening demand and the hawkish stance by Fed, with tech-heavy Nasdaq Composite settling 2,20% lower on Thursday, ahead of the third week of losses in a row.

Nasdaq Composite, Daily chart

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

Rate-sensitive and high-growth tech stocks led the losses on concerns for softening demand and the hawkish stance by Fed, with tech-heavy Nasdaq Composite settling 2,20% lower on Thursday, ahead of the third week of losses in a row.

Nasdaq Composite, Daily chart

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

The selling pressure on stocks resumed yesterday as economists and traders remained concerned that further monetary tightening from central banks around the world will push the economy into a recession.

Rate-sensitive and high-growth tech stocks led the losses on concerns for softening demand and the hawkish stance by Fed, with tech-heavy Nasdaq Composite settling 2,20% lower on Thursday, ahead of the third week of losses in a row.

Nasdaq Composite, Daily chart

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

The selling pressure on stocks resumed yesterday as economists and traders remained concerned that further monetary tightening from central banks around the world will push the economy into a recession.

Rate-sensitive and high-growth tech stocks led the losses on concerns for softening demand and the hawkish stance by Fed, with tech-heavy Nasdaq Composite settling 2,20% lower on Thursday, ahead of the third week of losses in a row.

Nasdaq Composite, Daily chart

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

Market reaction:

The selling pressure on stocks resumed yesterday as economists and traders remained concerned that further monetary tightening from central banks around the world will push the economy into a recession.

Rate-sensitive and high-growth tech stocks led the losses on concerns for softening demand and the hawkish stance by Fed, with tech-heavy Nasdaq Composite settling 2,20% lower on Thursday, ahead of the third week of losses in a row.

Nasdaq Composite, Daily chart

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

Market reaction:

The selling pressure on stocks resumed yesterday as economists and traders remained concerned that further monetary tightening from central banks around the world will push the economy into a recession.

Rate-sensitive and high-growth tech stocks led the losses on concerns for softening demand and the hawkish stance by Fed, with tech-heavy Nasdaq Composite settling 2,20% lower on Thursday, ahead of the third week of losses in a row.

Nasdaq Composite, Daily chart

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

While an upward revision of the GDP would normally be viewed as a positive catalyst for the markets, amid the Fed’s tightening phase it triggers market participants’ fear that the Fed’s funds target rate could rise higher and stay there longer than previously expected, raising the possibility of an economic contraction in 2023.

Market reaction:

The selling pressure on stocks resumed yesterday as economists and traders remained concerned that further monetary tightening from central banks around the world will push the economy into a recession.

Rate-sensitive and high-growth tech stocks led the losses on concerns for softening demand and the hawkish stance by Fed, with tech-heavy Nasdaq Composite settling 2,20% lower on Thursday, ahead of the third week of losses in a row.

Nasdaq Composite, Daily chart

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

While an upward revision of the GDP would normally be viewed as a positive catalyst for the markets, amid the Fed’s tightening phase it triggers market participants’ fear that the Fed’s funds target rate could rise higher and stay there longer than previously expected, raising the possibility of an economic contraction in 2023.

Market reaction:

The selling pressure on stocks resumed yesterday as economists and traders remained concerned that further monetary tightening from central banks around the world will push the economy into a recession.

Rate-sensitive and high-growth tech stocks led the losses on concerns for softening demand and the hawkish stance by Fed, with tech-heavy Nasdaq Composite settling 2,20% lower on Thursday, ahead of the third week of losses in a row.

Nasdaq Composite, Daily chart

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

U.S. stocks extended losses yesterday and the U.S. dollar rebounded from monthly lows after an upward revision to U.S Q3 GDP for 3.2% annualized growth, above the previous estimate of 2.9%, underscoring U.S. economic resiliency amid the Fed’s battle against inflation.

While an upward revision of the GDP would normally be viewed as a positive catalyst for the markets, amid the Fed’s tightening phase it triggers market participants’ fear that the Fed’s funds target rate could rise higher and stay there longer than previously expected, raising the possibility of an economic contraction in 2023.

Market reaction:

The selling pressure on stocks resumed yesterday as economists and traders remained concerned that further monetary tightening from central banks around the world will push the economy into a recession.

Rate-sensitive and high-growth tech stocks led the losses on concerns for softening demand and the hawkish stance by Fed, with tech-heavy Nasdaq Composite settling 2,20% lower on Thursday, ahead of the third week of losses in a row.

Nasdaq Composite, Daily chart

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

U.S. stocks extended losses yesterday and the U.S. dollar rebounded from monthly lows after an upward revision to U.S Q3 GDP for 3.2% annualized growth, above the previous estimate of 2.9%, underscoring U.S. economic resiliency amid the Fed’s battle against inflation.

While an upward revision of the GDP would normally be viewed as a positive catalyst for the markets, amid the Fed’s tightening phase it triggers market participants’ fear that the Fed’s funds target rate could rise higher and stay there longer than previously expected, raising the possibility of an economic contraction in 2023.

Market reaction:

The selling pressure on stocks resumed yesterday as economists and traders remained concerned that further monetary tightening from central banks around the world will push the economy into a recession.

Rate-sensitive and high-growth tech stocks led the losses on concerns for softening demand and the hawkish stance by Fed, with tech-heavy Nasdaq Composite settling 2,20% lower on Thursday, ahead of the third week of losses in a row.

Nasdaq Composite, Daily chart

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

Global stocks closed lower on Thursday, after pulling back from session lows, on growing concerns that the stronger-than-expected U.S GDP and the resilient labor market would lead the Federal Reserve to keep hiking interest rates for longer than investors may have hoped to fight the four-decade record high inflation.

U.S. stocks extended losses yesterday and the U.S. dollar rebounded from monthly lows after an upward revision to U.S Q3 GDP for 3.2% annualized growth, above the previous estimate of 2.9%, underscoring U.S. economic resiliency amid the Fed’s battle against inflation.

While an upward revision of the GDP would normally be viewed as a positive catalyst for the markets, amid the Fed’s tightening phase it triggers market participants’ fear that the Fed’s funds target rate could rise higher and stay there longer than previously expected, raising the possibility of an economic contraction in 2023.

Market reaction:

The selling pressure on stocks resumed yesterday as economists and traders remained concerned that further monetary tightening from central banks around the world will push the economy into a recession.

Rate-sensitive and high-growth tech stocks led the losses on concerns for softening demand and the hawkish stance by Fed, with tech-heavy Nasdaq Composite settling 2,20% lower on Thursday, ahead of the third week of losses in a row.

Nasdaq Composite, Daily chart

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

Global stocks closed lower on Thursday, after pulling back from session lows, on growing concerns that the stronger-than-expected U.S GDP and the resilient labor market would lead the Federal Reserve to keep hiking interest rates for longer than investors may have hoped to fight the four-decade record high inflation.

U.S. stocks extended losses yesterday and the U.S. dollar rebounded from monthly lows after an upward revision to U.S Q3 GDP for 3.2% annualized growth, above the previous estimate of 2.9%, underscoring U.S. economic resiliency amid the Fed’s battle against inflation.

While an upward revision of the GDP would normally be viewed as a positive catalyst for the markets, amid the Fed’s tightening phase it triggers market participants’ fear that the Fed’s funds target rate could rise higher and stay there longer than previously expected, raising the possibility of an economic contraction in 2023.

Market reaction:

The selling pressure on stocks resumed yesterday as economists and traders remained concerned that further monetary tightening from central banks around the world will push the economy into a recession.

Rate-sensitive and high-growth tech stocks led the losses on concerns for softening demand and the hawkish stance by Fed, with tech-heavy Nasdaq Composite settling 2,20% lower on Thursday, ahead of the third week of losses in a row.

Nasdaq Composite, Daily chart

The Dow Jones index dropped 349 points, or 1.05% to 33,027, after falling as much as 803 points earlier in the session, almost writing off the +1,5% gains on Wednesday after the better-than-expected earnings from Nike and FedEx.

The S&P 500 index declined 1.45% last night and is on track for a nearly 20% annual drop so far, which would be its biggest since the 2008 financial crisis.

With the end of December around the corner, Dow Jones is down 4.5% on the month so far, while the S&P 500 and Nasdaq have tumbled 6.3% and 8.7%, respectively.

All three major averages are lined up to break a 3-year win streak and post their worst yearly performance since 2008, driven by the recession fears and the aggressive tightening and rate hiking by Fed to curb the inflationary pressure.

Asian markets also ended lower on Friday morning, taking the lead from the overnight losses on Wall Street. Japan’s Nikkei 225 and Chinese indices fell as much as 1% during the session before ending much higher heading at the closing bell.

Best Exclusive Christmas Party yet!

Posted on by Exclusive Capital Team

But the most fun moment of the party was our Funny Employee Awards Ceremony. Twenty-four awards (such as the Cleanest Desk, the Pen Stealer, the Rockstar, the Fashionista, the Always in a Meeting) were given to the 24 winners of each category. Every Exclusive team member was nominated in each category, and the winners were announced at the party and received beautiful gold trophies and award certificates.

Team-bonding initiatives are of the utmost importance here at Exclusive Capital and our annual Christmas Party provides an excellent opportunity for us to come together as a team in a fun and exciting way. Of course, we jingled and mingled over food, drinks, music and dancing, but most importantly, we spent some fun, quality time together, establishing that We Are Exclusive!

Renewing a year-end tradition, we threw our best Christmas Party yet!

This year, our Christmas party featured a special occasion as Exclusive Capital’s co-founder and managing director, Lambros Lambrou, celebrated five years since the very beginning of the company. A heartfelt “thank you” video from the company’s founder and CEO, Viktor Madarasz and the rest of the Exclusive team to Mr Lambrou was screened during the party and the touching moment was the highlight of the party.

But the most fun moment of the party was our Funny Employee Awards Ceremony. Twenty-four awards (such as the Cleanest Desk, the Pen Stealer, the Rockstar, the Fashionista, the Always in a Meeting) were given to the 24 winners of each category. Every Exclusive team member was nominated in each category, and the winners were announced at the party and received beautiful gold trophies and award certificates.

Team-bonding initiatives are of the utmost importance here at Exclusive Capital and our annual Christmas Party provides an excellent opportunity for us to come together as a team in a fun and exciting way. Of course, we jingled and mingled over food, drinks, music and dancing, but most importantly, we spent some fun, quality time together, establishing that We Are Exclusive!

Renewing a year-end tradition, we threw our best Christmas Party yet!

This year, our Christmas party featured a special occasion as Exclusive Capital’s co-founder and managing director, Lambros Lambrou, celebrated five years since the very beginning of the company. A heartfelt “thank you” video from the company’s founder and CEO, Viktor Madarasz and the rest of the Exclusive team to Mr Lambrou was screened during the party and the touching moment was the highlight of the party.

But the most fun moment of the party was our Funny Employee Awards Ceremony. Twenty-four awards (such as the Cleanest Desk, the Pen Stealer, the Rockstar, the Fashionista, the Always in a Meeting) were given to the 24 winners of each category. Every Exclusive team member was nominated in each category, and the winners were announced at the party and received beautiful gold trophies and award certificates.

Team-bonding initiatives are of the utmost importance here at Exclusive Capital and our annual Christmas Party provides an excellent opportunity for us to come together as a team in a fun and exciting way. Of course, we jingled and mingled over food, drinks, music and dancing, but most importantly, we spent some fun, quality time together, establishing that We Are Exclusive!

Renewing a year-end tradition, we threw our best Christmas Party yet!

This year, our Christmas party featured a special occasion as Exclusive Capital’s co-founder and managing director, Lambros Lambrou, celebrated five years since the very beginning of the company. A heartfelt “thank you” video from the company’s founder and CEO, Viktor Madarasz and the rest of the Exclusive team to Mr Lambrou was screened during the party and the touching moment was the highlight of the party.

But the most fun moment of the party was our Funny Employee Awards Ceremony. Twenty-four awards (such as the Cleanest Desk, the Pen Stealer, the Rockstar, the Fashionista, the Always in a Meeting) were given to the 24 winners of each category. Every Exclusive team member was nominated in each category, and the winners were announced at the party and received beautiful gold trophies and award certificates.

Team-bonding initiatives are of the utmost importance here at Exclusive Capital and our annual Christmas Party provides an excellent opportunity for us to come together as a team in a fun and exciting way. Of course, we jingled and mingled over food, drinks, music and dancing, but most importantly, we spent some fun, quality time together, establishing that We Are Exclusive!

Japanese Yen rises to ¥131 a dollar on BoJ’s monetary policy shift

Posted on by Vrasidas Neofytou

Adding to the above, BoJ Governor Kuroda said the move was needed to correct distortions in the yield curve after global bond pressures pushed Japanese government bonds higher, and the action shouldn’t be viewed as the beginning of a hawkish pivot.

Some investors have already started reversing their bullish bets on the USD/JPY pair on worries the BoJ’s hawkish swing on monetary policy could indicate the start of a hawkish policy change, while some others are debating that the move is a one-off technical adjustment.

Adding to the above, BoJ Governor Kuroda said the move was needed to correct distortions in the yield curve after global bond pressures pushed Japanese government bonds higher, and the action shouldn’t be viewed as the beginning of a hawkish pivot.

Some investors have already started reversing their bullish bets on the USD/JPY pair on worries the BoJ’s hawkish swing on monetary policy could indicate the start of a hawkish policy change, while some others are debating that the move is a one-off technical adjustment.

Adding to the above, BoJ Governor Kuroda said the move was needed to correct distortions in the yield curve after global bond pressures pushed Japanese government bonds higher, and the action shouldn’t be viewed as the beginning of a hawkish pivot.

The unexpected move has shocked forex traders helping the Yen to recover significantly against major peers, as the ultra-dovish monetary policy stance by BoJ was one of the main catalysts of the Yen to hit a multi-decade low of ¥152 a dollar in mid-November 2022.

Some investors have already started reversing their bullish bets on the USD/JPY pair on worries the BoJ’s hawkish swing on monetary policy could indicate the start of a hawkish policy change, while some others are debating that the move is a one-off technical adjustment.

Adding to the above, BoJ Governor Kuroda said the move was needed to correct distortions in the yield curve after global bond pressures pushed Japanese government bonds higher, and the action shouldn’t be viewed as the beginning of a hawkish pivot.

The unexpected move has shocked forex traders helping the Yen to recover significantly against major peers, as the ultra-dovish monetary policy stance by BoJ was one of the main catalysts of the Yen to hit a multi-decade low of ¥152 a dollar in mid-November 2022.

Some investors have already started reversing their bullish bets on the USD/JPY pair on worries the BoJ’s hawkish swing on monetary policy could indicate the start of a hawkish policy change, while some others are debating that the move is a one-off technical adjustment.

Adding to the above, BoJ Governor Kuroda said the move was needed to correct distortions in the yield curve after global bond pressures pushed Japanese government bonds higher, and the action shouldn’t be viewed as the beginning of a hawkish pivot.

According to the announcement, the BoJ will allow its 10-year Japanese government yields to rise as much as 50 basis points, or 0.5%, up from a previous cap of 0.25%.

The unexpected move has shocked forex traders helping the Yen to recover significantly against major peers, as the ultra-dovish monetary policy stance by BoJ was one of the main catalysts of the Yen to hit a multi-decade low of ¥152 a dollar in mid-November 2022.

Some investors have already started reversing their bullish bets on the USD/JPY pair on worries the BoJ’s hawkish swing on monetary policy could indicate the start of a hawkish policy change, while some others are debating that the move is a one-off technical adjustment.

Adding to the above, BoJ Governor Kuroda said the move was needed to correct distortions in the yield curve after global bond pressures pushed Japanese government bonds higher, and the action shouldn’t be viewed as the beginning of a hawkish pivot.

According to the announcement, the BoJ will allow its 10-year Japanese government yields to rise as much as 50 basis points, or 0.5%, up from a previous cap of 0.25%.

The unexpected move has shocked forex traders helping the Yen to recover significantly against major peers, as the ultra-dovish monetary policy stance by BoJ was one of the main catalysts of the Yen to hit a multi-decade low of ¥152 a dollar in mid-November 2022.

Some investors have already started reversing their bullish bets on the USD/JPY pair on worries the BoJ’s hawkish swing on monetary policy could indicate the start of a hawkish policy change, while some others are debating that the move is a one-off technical adjustment.

Adding to the above, BoJ Governor Kuroda said the move was needed to correct distortions in the yield curve after global bond pressures pushed Japanese government bonds higher, and the action shouldn’t be viewed as the beginning of a hawkish pivot.

On Tuesday, the USD/JPY pair hit a four-month low of ¥130,50 after the widely unexpected decision of the BoJ to widen the range within which it allows yields on the benchmark 10-year government bonds to fluctuate, a potential sign that the central bank eventually intends to tighten policy amid rising inflation.

According to the announcement, the BoJ will allow its 10-year Japanese government yields to rise as much as 50 basis points, or 0.5%, up from a previous cap of 0.25%.

The unexpected move has shocked forex traders helping the Yen to recover significantly against major peers, as the ultra-dovish monetary policy stance by BoJ was one of the main catalysts of the Yen to hit a multi-decade low of ¥152 a dollar in mid-November 2022.

Some investors have already started reversing their bullish bets on the USD/JPY pair on worries the BoJ’s hawkish swing on monetary policy could indicate the start of a hawkish policy change, while some others are debating that the move is a one-off technical adjustment.

Adding to the above, BoJ Governor Kuroda said the move was needed to correct distortions in the yield curve after global bond pressures pushed Japanese government bonds higher, and the action shouldn’t be viewed as the beginning of a hawkish pivot.

On Tuesday, the USD/JPY pair hit a four-month low of ¥130,50 after the widely unexpected decision of the BoJ to widen the range within which it allows yields on the benchmark 10-year government bonds to fluctuate, a potential sign that the central bank eventually intends to tighten policy amid rising inflation.

According to the announcement, the BoJ will allow its 10-year Japanese government yields to rise as much as 50 basis points, or 0.5%, up from a previous cap of 0.25%.

The unexpected move has shocked forex traders helping the Yen to recover significantly against major peers, as the ultra-dovish monetary policy stance by BoJ was one of the main catalysts of the Yen to hit a multi-decade low of ¥152 a dollar in mid-November 2022.

Some investors have already started reversing their bullish bets on the USD/JPY pair on worries the BoJ’s hawkish swing on monetary policy could indicate the start of a hawkish policy change, while some others are debating that the move is a one-off technical adjustment.

Adding to the above, BoJ Governor Kuroda said the move was needed to correct distortions in the yield curve after global bond pressures pushed Japanese government bonds higher, and the action shouldn’t be viewed as the beginning of a hawkish pivot.

USD/JPY pair, Daily chart

On Tuesday, the USD/JPY pair hit a four-month low of ¥130,50 after the widely unexpected decision of the BoJ to widen the range within which it allows yields on the benchmark 10-year government bonds to fluctuate, a potential sign that the central bank eventually intends to tighten policy amid rising inflation.

According to the announcement, the BoJ will allow its 10-year Japanese government yields to rise as much as 50 basis points, or 0.5%, up from a previous cap of 0.25%.

The unexpected move has shocked forex traders helping the Yen to recover significantly against major peers, as the ultra-dovish monetary policy stance by BoJ was one of the main catalysts of the Yen to hit a multi-decade low of ¥152 a dollar in mid-November 2022.

Some investors have already started reversing their bullish bets on the USD/JPY pair on worries the BoJ’s hawkish swing on monetary policy could indicate the start of a hawkish policy change, while some others are debating that the move is a one-off technical adjustment.

Adding to the above, BoJ Governor Kuroda said the move was needed to correct distortions in the yield curve after global bond pressures pushed Japanese government bonds higher, and the action shouldn’t be viewed as the beginning of a hawkish pivot.

USD/JPY pair, Daily chart

On Tuesday, the USD/JPY pair hit a four-month low of ¥130,50 after the widely unexpected decision of the BoJ to widen the range within which it allows yields on the benchmark 10-year government bonds to fluctuate, a potential sign that the central bank eventually intends to tighten policy amid rising inflation.

According to the announcement, the BoJ will allow its 10-year Japanese government yields to rise as much as 50 basis points, or 0.5%, up from a previous cap of 0.25%.

The unexpected move has shocked forex traders helping the Yen to recover significantly against major peers, as the ultra-dovish monetary policy stance by BoJ was one of the main catalysts of the Yen to hit a multi-decade low of ¥152 a dollar in mid-November 2022.

Some investors have already started reversing their bullish bets on the USD/JPY pair on worries the BoJ’s hawkish swing on monetary policy could indicate the start of a hawkish policy change, while some others are debating that the move is a one-off technical adjustment.

Adding to the above, BoJ Governor Kuroda said the move was needed to correct distortions in the yield curve after global bond pressures pushed Japanese government bonds higher, and the action shouldn’t be viewed as the beginning of a hawkish pivot.

USD/JPY pair, Daily chart

On Tuesday, the USD/JPY pair hit a four-month low of ¥130,50 after the widely unexpected decision of the BoJ to widen the range within which it allows yields on the benchmark 10-year government bonds to fluctuate, a potential sign that the central bank eventually intends to tighten policy amid rising inflation.

According to the announcement, the BoJ will allow its 10-year Japanese government yields to rise as much as 50 basis points, or 0.5%, up from a previous cap of 0.25%.

The unexpected move has shocked forex traders helping the Yen to recover significantly against major peers, as the ultra-dovish monetary policy stance by BoJ was one of the main catalysts of the Yen to hit a multi-decade low of ¥152 a dollar in mid-November 2022.

Some investors have already started reversing their bullish bets on the USD/JPY pair on worries the BoJ’s hawkish swing on monetary policy could indicate the start of a hawkish policy change, while some others are debating that the move is a one-off technical adjustment.

Adding to the above, BoJ Governor Kuroda said the move was needed to correct distortions in the yield curve after global bond pressures pushed Japanese government bonds higher, and the action shouldn’t be viewed as the beginning of a hawkish pivot.

Japanese Yen has posted some outsizing gains this week, climbing as high as ¥130 a dollar following the Bank of Japan’s decision to allow the 10-year bond yield to move in a wider band, which might be the first step towards a broader monetary policy normalization process in the country to curb the record-high inflation.

USD/JPY pair, Daily chart

On Tuesday, the USD/JPY pair hit a four-month low of ¥130,50 after the widely unexpected decision of the BoJ to widen the range within which it allows yields on the benchmark 10-year government bonds to fluctuate, a potential sign that the central bank eventually intends to tighten policy amid rising inflation.

According to the announcement, the BoJ will allow its 10-year Japanese government yields to rise as much as 50 basis points, or 0.5%, up from a previous cap of 0.25%.

The unexpected move has shocked forex traders helping the Yen to recover significantly against major peers, as the ultra-dovish monetary policy stance by BoJ was one of the main catalysts of the Yen to hit a multi-decade low of ¥152 a dollar in mid-November 2022.

Some investors have already started reversing their bullish bets on the USD/JPY pair on worries the BoJ’s hawkish swing on monetary policy could indicate the start of a hawkish policy change, while some others are debating that the move is a one-off technical adjustment.

Adding to the above, BoJ Governor Kuroda said the move was needed to correct distortions in the yield curve after global bond pressures pushed Japanese government bonds higher, and the action shouldn’t be viewed as the beginning of a hawkish pivot.

Japanese Yen has posted some outsizing gains this week, climbing as high as ¥130 a dollar following the Bank of Japan’s decision to allow the 10-year bond yield to move in a wider band, which might be the first step towards a broader monetary policy normalization process in the country to curb the record-high inflation.

USD/JPY pair, Daily chart

On Tuesday, the USD/JPY pair hit a four-month low of ¥130,50 after the widely unexpected decision of the BoJ to widen the range within which it allows yields on the benchmark 10-year government bonds to fluctuate, a potential sign that the central bank eventually intends to tighten policy amid rising inflation.

According to the announcement, the BoJ will allow its 10-year Japanese government yields to rise as much as 50 basis points, or 0.5%, up from a previous cap of 0.25%.

The unexpected move has shocked forex traders helping the Yen to recover significantly against major peers, as the ultra-dovish monetary policy stance by BoJ was one of the main catalysts of the Yen to hit a multi-decade low of ¥152 a dollar in mid-November 2022.

Some investors have already started reversing their bullish bets on the USD/JPY pair on worries the BoJ’s hawkish swing on monetary policy could indicate the start of a hawkish policy change, while some others are debating that the move is a one-off technical adjustment.

Adding to the above, BoJ Governor Kuroda said the move was needed to correct distortions in the yield curve after global bond pressures pushed Japanese government bonds higher, and the action shouldn’t be viewed as the beginning of a hawkish pivot.

Exclusive Change Capital Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) under the licence number CIF 330/17. Exclusive Capital Ltd operates in accordance with the Markets in Financial Instruments Directive (MiFID) of the European Union.

Exclusive Change Capital Ltd is incorporated under the laws of Cyprus, with registration no. HE 337858, regulated by CySEC under license no. 330/17 and has its registered address at Theodorou Potamianou 56, 4th Floor, Kato Polemidia, 4155, Limassol, Cyprus

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please read our full Risk Disclosure.

The Company's official website of Exclusive Change Capital Ltd is www.exclusivecapital.com and we are not affiliated in any way with other domains or companies.

Restricted Regions: Exclusive Change Capital Ltd, does not provide services to citizens / residents of certain regions, such as Belarus, Belgium, Canada, Cuba, Iran, Iraq, Japan, North Korea, Latvia, Russian Federation, Sudan, Syria, Turkey, The United States and Ukraine.

ISO 27001:2022

The services are delivered under the controls established by information security management systems in conformity with ISO/IEC 27001:2022, and we are certified by MSECB.

Copyright ©️ 2017-2025 Exclusive Change Capital Ltd

facebook twitter linkedin instagram youtube